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Stock Market & Financial Investment News

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January 31, 2013
13:35 EDTLPSLender Processing announces settlement with Michigan Attorney General
Lender Processing Services announced a settlement agreement with the Attorney General of the State of Michigan that resolves the state's investigation surrounding the company's default operations, including former document preparation, verification, signing and notarization practices of certain operations. Although the state of Michigan was referenced in the company's earlier announcement about its multi-state settlements, the settlement with Michigan was the result of an independent investigation and negotiation. The settlement with Michigan includes a payment of $1.7M, which was included in the company's earlier $127M multi-state announcement. Additionally, as part of the settlement with Michigan, LPS is reimbursing the state for $800,000 for attorney fees and costs.
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